EP 419,049, Prasit et al., Mar. 27, 1991, describes a series of quinolin-2-ylmethoxy indoles useful as inhibitors of leukotriene biosynthesis. Examples 1 and 1A therein teach the synthesis of 3-[N-(p-chlorobenzyl)-3-(t-butylthio)-5-(quinolin-2-ylmethoxy)indol-2-yl]- 2,2-dimethylpropanoic acid (L-686,708) as a crystalline compound. The sodium salt thereof, which is prepared by hydrolyzing the methyl ester with a base such as NaOH, can also be isolated as a crystalline solid which exhibits good solid state characteristics, such as non-hygroscopicity, physical stability, etc.; however, it exhibits very low aqueous solubility (approx. 0.005-0.03 mg/mL), which renders it non-suitable for conventional intravenous injection, and gives rise to low oral bioavailability.